VST has lots of debt. With AI demand intact, this is not an issue and its stock price could continue to climb.
However, any headwind on the demand side could send the stock downwards and scare away lots of weak hands. Today, it went down 12 points because they had to spend another $2.3B cash to buy a new company, VST does not have $2.3B cash on balance sheet so this means borrowing more debt to make the merge work --- a good move to meet the surging demand, but could backfire if some of those demand cool down
